Honda are going to pull out of F1 racing.
The team made the call due to the global financial crisis.
"Honda Motor Co. has come to the conclusion that we will withdraw
from all Formula One activities, making 2008 the last season for
participation," an emotional Honda Motor president Takeo Fukui told a
press conference.
"This difficult decision has been made in light of the quickly
deteriorating operating environment facing the global auto industry,
brought on by the subprime problem in! the United States, the deepening
credit crisis and the sudden contraction of the world economies," he
added.
Honda Motor also supplied engines and other technical support to
Formula One team Super Aguri, which called it quits due to financial
problems in May.
